TMI Blog2015 (7) TMI 898X X X X Extracts X X X X X X X X Extracts X X X X ..... d therefore the same could not be booked as work in progress. Accordingly, we note that the AO was not correct to deny the amount of loss as claimed by the assessee on Talcher Transmission Line project. Hence, we are of the considered view that the CIT(A) was right in deleting the addition which was made by the AO without any logical reasoning and thus we are unable to see any infirmity, perversit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - on account of disallowance of loss relating to 'Talcher Transmission Line' and ignoring the fact that the assessee had itself declared that the said project has been completed, and the finding of the AO that the assessee was not correct in showing separately loss of ₹ 26,87,986/- at that stage and in the circumstances. 3. Apropos above ground of the revenue, ld. DR submitted th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e was called for hearing, neither the assessee nor his representative appeared before us and there is no adjournment application before us. On careful consideration and perusal of the impugned order and other relevant material, we find it appropriate to proceed with the order in absence of assessee after hearing the ld. DR on behalf of the appellant revenue. 4. At the very outset, we note that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been shown as work-in-progress is not correct because the appellant was not to receive any further payment from PGCIL in respect of such expenses and, therefore, there was no question of booking it as work-in-progress in the books of account. It is also not in doubt that liability for the expenses claimed by the appellant had crystallized during the year under appeal. 5.3 Having considered sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... we note that the AO was not correct to deny the amount of loss as claimed by the assessee on Talcher Transmission Line project. Hence, we are of the considered view that the CIT(A) was right in deleting the addition which was made by the AO without any logical reasoning and thus we are unable to see any infirmity, perversity or any other valid reason to interfere with the impugned order and we up ..... X X X X Extracts X X X X X X X X Extracts X X X X
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